Exam Questions And Answers On Game Theory
Game theory is a mathematical approach used to study decision-making in situations where two or more individuals are involved. It is an important field of study in economics, political science, psychology, and many other fields. In Indonesia, game theory has been widely used to analyze economic and political situations, and in recent years, its importance has only increased.
What is game theory?
Game theory is a mathematical framework used to analyze interaction between two or more individuals in situations where each individual's success depends on the choices made by the other individuals. It is used to study situations where there is competition or cooperation involved, and where the outcome of the interaction depends on the strategies chosen by each individual.
Game theory is used to study a wide range of situations, from economic interactions between firms and individuals to political interactions between countries. It provides a way to analyze the incentives of each individual involved in the interaction, and to predict the outcomes of the interaction based on the strategies chosen by each individual.
Exam questions and answers on game theory in Indonesia
Game theory is an important field of study in Indonesia, and it is often included in exams for students studying economics, political science, and other related fields. Here are some sample exam questions and answers on game theory in Indonesia:
Question 1: In a game of chicken, two drivers are heading towards each other on a narrow road. If both drivers swerve, they will avoid a head-on collision and each driver will receive a small penalty. If one driver swerves and the other does not, the driver who does not swerve will receive no penalty, while the driver who swerves will receive a large penalty. If both drivers do not swerve, they will collide and both will receive a very large penalty. What is the Nash equilibrium in this game?
Answer: The Nash equilibrium in this game is for both drivers to not swerve. This is because if one driver swerves, the other driver will receive no penalty if they do not swerve, which gives them an incentive to not swerve. But if both drivers do not swerve, they will both receive a very large penalty, which gives them an incentive to swerve. Therefore, the Nash equilibrium is for both drivers to not swerve.
Question 2: In a game between two firms, each firm can choose to set a high price or a low price for their product. If both firms set a high price, they will both receive a small profit. If both firms set a low price, they will both receive a large profit. If one firm sets a high price and the other sets a low price, the firm with the high price will receive no profit, while the firm with the low price will receive a very large profit. What is the dominant strategy in this game?
Answer: The dominant strategy in this game is for both firms to set a low price. This is because if one firm sets a high price, the other firm will receive a very large profit if they set a low price, which gives them an incentive to set a low price. But if both firms set a low price, they will both receive a large profit, which gives them an incentive to set a low price. Therefore, the dominant strategy is for both firms to set a low price.
Conclusion
Game theory is an important field of study in Indonesia, and it is used to analyze a wide range of situations in economics, politics, and other fields. By understanding game theory, individuals can better analyze and predict the outcomes of interactions between individuals or groups, and make better decisions based on this analysis.
